The Union Minister of Finance and Corporate Affairs, Nirmala Sitharaman on Thursday, 28 November 2019 sought Parliament’s approval for capital infusion as a part of the first supplementary demand of grants for Rs 21,246.16 crore which will include: 1)About Rs, 8,820 crores will be spent for the newly-formed Union Territories of Ladakh and Jammu and ..
IDBI Bank: GK, General Studies and Current Affairs
The Reserve Bank of India, in a recent announcement, has mandated the banks to link their lending rates for loans to an external benchmark. This has made it mandatory for the banks to pass on the benefits of rate cuts on the loans to the banks immediately. Significance of the RBI’s Announcement This is significant ..
The Indian Government has decided to extend a special Credit Linked Capital Subsidy Scheme (CLCSS) for Technology Upgradation to the MSMEs. This money is to be utilized for the Technology Upgradation. The Indian Government relaizes that the equipping a business with technology is fiscally draining and this problem is even more severe for the Micro, ..
The Indian Government has approved a Rs 9300 crore fund infusion in the IDBI bank. This has caused the shares of the IDBI bank to surge 8% in a single day. What has happened? The Indian Cabinet has approved the cash infusion plan to improve the capital adequacy ratio in the bank. The Indian Government ..
SIDBI introduces web-based application system for contribution from Fund of Funds for Startups (FFS)
SIDBI has introduced web-based application system for contribution from Fund of Funds for Startups (FFS). The applications for contribution from various Alternative Investment Funds (AIFs) will now be accepted online and the status of the same shall be accessible to applicants, thereby increasing the transparency in the system. The provision of submission of online application ..